ICON Public FY2024 EPS Forecast Raised by Leerink Partnrs

ICON Public Limited (NASDAQ:ICLR - Free Report) - Equities research analysts at Leerink Partnrs increased their FY2024 EPS estimates for ICON Public in a research note issued to investors on Tuesday, January 14th. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings per share of $13.40 for the year, up from their previous estimate of $13.25. Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for ICON Public's current full-year earnings is $13.41 per share.

ICON Public (NASDAQ:ICLR - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.72 by ($0.37). The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.13 billion. ICON Public had a net margin of 9.00% and a return on equity of 11.91%. ICON Public's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.10 EPS.

ICLR has been the topic of several other research reports. Truist Financial reaffirmed a "buy" rating and issued a $284.00 price objective (down previously from $295.00) on shares of ICON Public in a research note on Wednesday, December 18th. Redburn Atlantic initiated coverage on shares of ICON Public in a research report on Monday, October 14th. They issued a "neutral" rating and a $311.00 price target for the company. Robert W. Baird decreased their price objective on shares of ICON Public from $249.00 to $225.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. TD Cowen dropped their target price on shares of ICON Public from $369.00 to $285.00 and set a "buy" rating for the company in a report on Friday, October 25th. Finally, William Blair restated an "outperform" rating on shares of ICON Public in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $287.00.

ICON Public Stock Performance

Shares of ICLR stock traded up $3.00 during mid-day trading on Thursday, reaching $202.47. 1,455,318 shares of the company's stock traded hands, compared to its average volume of 1,052,972. ICON Public has a 12 month low of $183.38 and a 12 month high of $347.72. The firm has a 50 day moving average price of $210.30 and a two-hundred day moving average price of $269.51. The firm has a market capitalization of $16.70 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ICLR. Foyston Gordon & Payne Inc bought a new position in ICON Public during the third quarter valued at $11,672,000. Icon Wealth Advisors LLC lifted its holdings in shares of ICON Public by 861.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company's stock valued at $3,797,000 after acquiring an additional 11,840 shares during the last quarter. Whittier Trust Co. grew its position in ICON Public by 12.3% in the third quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company's stock worth $1,155,000 after acquiring an additional 441 shares in the last quarter. Sara Bay Financial bought a new stake in ICON Public during the third quarter worth approximately $1,143,000. Finally, Steph & Co. increased its stake in ICON Public by 3.7% during the fourth quarter. Steph & Co. now owns 1,560 shares of the medical research company's stock worth $327,000 after acquiring an additional 55 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

ICON Public Company Profile

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.